Amazon acquires Ring to bolster its security portfolio

Amazon is buying smart doorbell maker Ring making a deeper push into the home security market. Though the terms of the deal haven’t been disclosed, Reuters says that the sale price was more than $1 billion.

Ring is best known for a doorbell with a security camera inside. The device allows homeowners to monitor visitors at their front door through an app on their phone, even if they’re not at home. Amazon’s Echo Spot device already works with Ring doorbells, allowing people to look at footage from the cameras on the Echo Spot’s screen. Amazon had invested an undisclosed amount in Ring through its Alexa Fund.

“Ring is committed to our mission to reduce crime in neighborhoods by providing effective yet affordable home security tools to our neighbors that make a positive impact on our homes, our communities, and the world,” a Ring spokesperson said in a statement. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon.”

Amazon is expected to keep Ring as an independent business, much like it has with its other acquisitions, like Zappos and Twitch, according to GeekWire. Ring is Amazon’s second smart home acquisition in three months; last December, the company acquired Blink, another smart doorbell company.